"We received an offer from the Qatar Investment Authority (QIA) concerning an investment in Porsche SE and the purchase of options in Volkswagen (AG) stock," the spokesman was quoted as saying by Autonews. without detailing neither the offer nor the stage of the negotiations.
According to a report by Frankfurter Allgemeine Zeitung, the QIA deal would involve the Qatari fund taking a percent stake of Porsche's ordinary shares, at an estimated price of 250 euro for share.
On Friday, Volkswagen said they have reached a positive conclusion with Qatar Investment Authority. Then, on Saturday, VW's ultimatum came, triggering Porsche's outcry. "The 21st century is not the time for ultimatums. We wonder what the whole matter is really about and whether the focus is still on our common cause at all," Porsche said in a release.
The state of Lower Saxony on the other hand pushes for a fast resolution of the Porsche-Volkswagen quarrel. With elections on the way, Germany wants the two to unfreeze the merger talks.
"We need to clarify now whether each will go his own way or whether there is a common solution," Christian Wulff, premier of the German state of Lower Saxony, said in Berlin. "Apparently not all facts are known to everyone."
On the financial front, Porsche is again pushing towards securing a state backed loan from German bank KfW. After the initial attempt was rejected by the bank, Porsche re-applied last week for the 1.75 billion euro bailout.
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